Polymarket Cleared by US Regulators: DOJ and CFTC End Crypto Betting Probes

The U.S. Department of Justice and the Commodity Futures Trading Commission have closed their investigations into Polymarket, a crypto prediction platform. CEO Shayne Coplan confirmed the agencies issued formal notifications, clearing the path for the company's potential re-entry into the U.S. market. This development follows a 2022 settlement where Polymarket paid a $1.4 million fine and shut down non-compliant markets.

Regulatory scrutiny had intensified during the 2024 election season amid concerns about U.S. users bypassing geographic restrictions. Despite the CFTC's classification of prediction markets as derivatives platforms, the resolution signals a shifting enforcement landscape. Polymarket now eyes a $200 million funding round and plans to pursue CFTC registration for its return.